Business Financing

The Community Futures Development Corporation operates as a source of financing when conventional business financing is not available.

To apply for a loan, you must:

  • Be planning to locate, start or expand business operations in the City or County of Peterborough
  • Present a viable business plan (Outline available in the business tools section)
  • Have Reasonable Security
Effective July 1, 2012, a $50 application fee is required by cash or cheque.
Click here to download a Cash Flow Projection Spreadsheet

We offer:

  • Loans of up to $150,000 to any single business
  • Micro Loans and Youth Loans
  • Reasonable interest rates
  • Flexible repayment schedules tailored to your cash flow

The Process:
To apply, you will need to complete our application form (available above or by fax or mail) and submit it with a copy of your business plan and the $50 application fee by cash or cheque.

Applications must be received by the first Tuesday of the month. The application will be reviewed by our office and you will be contacted for additional information if warranted.

Once all the pertinent information is received, the application will be summarized and presented to our Volunteer Board of Directors who meet the third Tuesday of every month.

The board will review and make recommendations for each loan application. A decision is made at the monthly board meeting and a response will be forthcoming to the applicant the same day.

Micro Loan Program

Are you a small business looking for financial services including business planning, business loans and counseling on small business matters? Peterborough CFDC’s “micro loan” program might be for you.

As a federally funded community organization, the Peterborough CFDC understands the need that small business has for micro loans.

The Peterborough CFDC “micro loan” program provides qualified borrowers loans as low as $500 up to $10,000 for their business needs.

To qualify you must:

  • be at least 19 years old
  • work and live in Peterborough County
  • operate a legal, full or part-time business (seasonal included)
  • business leads to full-time sustainable employment

Requirements:

  • A completed loan application (available above) with $50 application fee
  • Completed Business Plan with 12 month cash flow
  • Business Registration documents
  • Proof of identity

Approvals are based on acceptable credit ratings and are
subject to CFDC’s prevailing interest rates.

Questions regarding the “micro loan” program can be addressed by contacting:

Judy Heffernan
General Manager
705-745-5434